If average total cost is $40 and average variable cost is $20 at 10 units of output and the marginal cost of the 11th unit is $30, what is the average total cost of 11 units

Companies under market structures are independent

Experienced problem solvers always consider both the value and units of their answer to a problem. why?

You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase